Hassan Maishera
On Wednesday, Aave Labs announced via X that the Aave DAO has passed a proposal to activate the AAVE Buy and Distribute program. This proposal approves a specific allowance of aEthUSDT from the Aave Collector contract to the Aave Finance Committee (AFC), enabling the committee to initiate AAVE buybacks as part of the Aavenomics implementation.
Aave protocol is a decentralized, open-source, and non-custodial money market protocol. Depositors earn interest by providing liquidity to lending pools, while borrowers can obtain overcollateralized loans by using the liquidity from these pools. AAVE is trading at $140.07 per token, up 10% in the last 24 hours.
